Oil prices increased by 5% following three consecutive days of declines, as hostilities reignited in the Middle East, concluding a period of relative tranquillity and rekindling worries about possible interruptions to energy supplies. The action was prompted by a report from the U.S. military indicating that it had intercepted an Iranian “surprise attack” on its Read More
Oil prices declined by 1% on Tuesday as market participants continued to assess a potential pause in U.S. strikes on Iran, which has fostered optimism regarding a diplomatic resolution to their conflict and the normalisation of energy flows in the Middle East. Brent crude futures experienced a decline of $0.54, representing a decrease of 0.6%, Read More
Oil prices experienced a decline of more than 5% on Monday, attributed to the cessation of strikes between the US and Iran over the weekend, which followed a fortnight of hostilities. The pause has elevated expectations that diplomatic efforts may facilitate a resolution to the conflict, potentially restoring normal shipping operations through the Strait of Read More
Oil prices were on track for a weekly increase on Friday, as assaults by Houthis on tankers in the Red Sea heightened apprehensions regarding a potential closure of another vital shipping corridor. Simultaneously, Kazakhstan implemented a temporary reduction in oil production following the closure of its primary export route. Brent futures declined by 81 cents, Read More
Oil prices increased by over 1.5%, reaching their highest level in more than six weeks on Thursday. This uptick followed the United States initiating a new series of strikes on Iran, while Yemen’s Houthis targeted oil tankers in the Red Sea. Brent crude futures increased by $1.93, representing a 2% rise, reaching $96 by 0011, Read More
Oil prices declined on Tuesday as traders weighed reports of renewed diplomatic initiatives between the U.S. and Iran against recent military exchanges and threats from Yemen’s Houthis regarding a naval blockade of Saudi Arabia. Brent crude futures declined by 35 cents, representing a 0.4% decrease, settling at $88.87 per barrel. Meanwhile, U.S. West Texas Intermediate Read More
Oil prices surged by 3% on Monday, with Brent exceeding $90 a barrel, as the United States and Iran intensified their military actions in the Middle East, leading to a reduction in energy shipments through the Strait of Hormuz. Brent crude futures increased by $2.69, representing a 3.05% rise, reaching $90.79 by 2343. This marks Read More
Oil prices experienced a slight increase on Friday as tensions escalated between the U.S. and Iran, resulting in intensified attacks across the Gulf. The deteriorating truce has constrained oil flows from the Strait of Hormuz, while Tehran has urged the Houthi movement to prepare for potential disruptions to the Red Sea export route. Brent crude Read More
Oil experienced an uptick on Wednesday following President Donald Trump’s decision to reinstate a naval blockade on all Iranian ports, coinciding with Iran’s retaliatory strikes targeting U.S. infrastructure in the region. For the second consecutive session, Brent reached its peak since June 12, while West Texas Intermediate hit its highest point since June 15, continuing Read More
Following further attacks by the United States, Iran expanded its military strikes to Gulf states, creating fears about the security of energy exports through the Strait of Hormuz. As a result, oil prices increased by more than 4% on Monday. Brent crude futures increased by $3.34, representing a 4.38% rise, reaching $79.5 per barrel. Meanwhile, Read More
